Northgate Exploration Limited - TSX: NGX; AMEX: NXG Message Board

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Gold/Mining/Energy : Northgate Exploration Limited - TSX: NGX; AMEX: NXG

NXG 49.57

-2.3%

3:59 PM EST

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To: Northern Marlin who wrote (2)	2/29/2004 8:21:22 PM
From: tyc:>	Read Replies (2) of 148

When you talk about funding requirements from cash flow, don't forget that there are some 40 million warrants exercisable at C$3.00 per share. Perhaps this dilution is already built into the stock price.... What is your opinion ? When the exercise price is equal to the current market price, do they really cause "dilution" ? My feeling is that the warrants are the cause of a lot of "hedge" shorting. This may depress the price, but not the value !

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